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by Stockwatch Business Reporter

New York spot gold rose $24.60 on Wednesday, closing at $3,347.20. The TSX Venture Exchange gained 4.04 points to 786.81 while the TSX gold index rose 0.18 point to 497.33. Equinox Gold Corp. (EQX) helped the rally along, adding eight cents to $8.48 on 10.1 million shares, and Kinross Gold Corp. (K) tagged along, adding 14 cents to $21.28 on 6.31 million shares. Taseko Mines Ltd. (TKO) went the other way, dropping 32 cents to $4.50 on 1.75 million shares.

Rui Feng's Silvercorp Metals Inc. (SVM) stumbled today. It dropped 58 cents to $6.39 on 2.98 million shares, but it did so on news. Late yesterday, the company revealed its first quarter operating results, which showed a modest increase in revenue, aided by improved lead production but hampered by a significant drop in zinc production. As for silver, it was up a bit, but not as much as gold, which reached 2,050 ounces, nearly doubling the output a year ago. Nevertheless, investors expected more.

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